Problems of Entrepreneur

1. Political instability: This does not encourage an investor to

invest in the economy even if he has invested, he might decide
to fold up due to the prevailing hostile economic climate.

2. Presence of inflation: Inflation is an economic condition

characterized by a general and continuous rise in the price
level coupled with a fall in the value of money. Hence inflation
is economically harmful to suppliers because of unstable
quoted market prices.

3. Inadequacy of information: The collation and analysis of

relatively dependable, reliable and authentic data that may
facilitate and enhance forecasting and planning. It is pertinent
to point out that the entrepreneur may not be conscious of the
existing forces of law of demand and supply that directly or
indirectly affects consumers’ behaviour.
4. Capital: Capital is relatively inadequate to finance
entrepreneurial business transactions in Nigeria. The initial
capital for the take-off of the business may not be adequate or it
may be non-existent. Due to lack of funds acquisition of
entrepreneurial/managerial skills is not yardstick or prerequisite
for establishing a small-scale business.

5. Inadequate of infrastructural facilities: This may hamper or

hinder the development of entrepreneurial activities.

6. Inadequate of Government support or motivation: To aid in

embarking on small-scale business by providing free consultancy
services and making available soft loans.
 7. Type of business to establish: At the onset may pose and
Herculean task for new entrepreneurs because of lack of
experience in small-scale business transaction and
management.

In conclusion, the ultimate objective of every individual

whether educated or not is to be his/her own boss and employ
other. The profit motive as well as the attendant physiological
achievement associated with successful entrepreneurships are
the driving force to be an entrepreneur. So as to achieve desire
goals and objectives an entrepreneur must try as much as
possible overcome the above problems.